Finance (Local Property Tax) Act 2012 section 64

Interpretation (Chapter 1)

Section 64 defines the key terms used in Chapter 1 of Part 10, which deals with the deduction of Local Property Tax (LPT) at source from employment income by employers and pension providers.

• "Emoluments" and "employer" carry the same meanings as under the PAYE system in section 983 of the Taxes Consolidation Act 1997.
• "Net emoluments" means gross pay (less allowable pension contributions) after deducting income tax, PRSI, universal social charge, and any amounts required by a pre-existing court order.
• Net emoluments also include any income tax, PRSI or USC amounts that an employer subsequently repays to the employee after those deductions were initially made.
• "PAYE Regulations" refers to the Income Tax (Employments) (Consolidated) Regulations 2001 (S.I. No. 559 of 2001).